# Corn eases from 8-year peak, market eyes USDA supply-demand report | Reuters

> Chicago corn futures fell on May 10, 2021 after rallying to an eight-year high on supply concerns. Wheat dropped 1.2% to $7.53 a bushel and soybeans fell 0.5% to $15.82 a bushel as traders awaited the USDA supply-demand report. A NAB economist noted reduced animal feed demand at higher price levels.

- Date: 2021-05-10 · published 2021-05-10T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/11414-corn-eases-from-8-year-peak-market-eyes-usda-supply-demand-report-reuters
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Higher corn prices are cutting feed-sector demand, which can cap further gains and limit feed cost increases for buyers.

## Read by commodity

- SOY: bearish ▼
- CORN: bearish ▼
- WHEAT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| WHEAT | 2021-05-10 | 1 | +5.0% | 4.0 | Same-day Reuters report of corn retreating from an 8-year peak with wheat lower as traders squared positions before WASDE; wheat is following corn. |
| CORN | 2021-05-16 | 5 | -8.8% | -3.1 | Corn was already easing from its eight-year peak on May 10, and higher prices were reducing feed demand, which marked the start of the reversal. |

## Sources

- reuters.com: https://www.reuters.com/article/markets/commodities/corn-eases-from-8-year-peak-market-eyes-usda-supply-demand-report-idUSL1N2MX031/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.